E*Trade's Trading Volume Jumps
NEW YORK (
) -- Retail trading at
E*Trade Financial
(ETFC) - Get Report
rose 9% in November, the company said Wednesday.
E*Trade's daily average revenue trades, or DARTs, totaled 158,770, a sequential increase of 9% and a year-over-year increase of 4%, the company said in a
Securities and Exchange Commission
filing.
The monthly DART metrics were released one week early since E*Trade CEO Steven Freiberg is presenting Wednesday afternoon at the Goldman Sachs U.S. Financial Services Conference.
E*Trade's normal monthly activity report, which includes loan performance data for the month will be released on December 15, it said.
Retail trading volumes have seen a pick up at E*Trade and its rivals
TD Ameritrade
(AMTD) - Get Report
and
Charles Schwab
(SCHW) - Get Report
in the last few months, however volumes have still been below last year, given the volatile markets.
E*Trade's year over year pick up could mean that the retail investor is finally engaging in the markets again. More likely though, the initial public offering of
General Motors
(GM) - Get Report
was a big contributor to the positive November volumes.
Retail investors clamored to buy shares of the GM IPO
, the largest in U.S. history raising $23 billion.
E*Trade shares were rising 0.9% to $15.71.
-- Written by Laurie Kulikowski in New York.
To contact the writer of this article, click here:
Laurie Kulikowski
.
To submit a news tip, send an email to:
.
Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.